US President Donald Trump stated his intention to lower tariffs on imports from China, but noted that business relations between the countries are effectively halted.
Trade Situation Between the US and China
Trump mentioned that he plans to lower tariffs that have reached as high as 145% on Chinese imports. In retaliation, China imposed tariffs of 125% on American goods, causing a downturn in trade activity between the two nations.
Impact of Tariffs on Production Orders
Following the introduction of new tariffs, American retailers paused orders, and many Chinese factories froze production, as reported by several companies in interviews. Some factories have started operations again due to fears of missing the shopping season.
Possibility of Talks with China
During the interview, Trump pointed to economic weakness in China as proof that his pressure campaign is working. However, he also noted that China is making 'positive' statements and that any negotiations must be 'fair'.
Thus, the current trade situation between the US and China remains tense, but potential talks could lead to changes in relations that are important to consider for future trade decisions.
